Basics
LEAPS
Long-term options (1+ year)
What is LEAPS?
LEAPS Long-Term Equity Anticipation Securities. Options with expiration dates more than one year out. Lower theta decay but higher vega exposure.
Complete Definition
Long-Term Equity Anticipation Securities. Options with expiration dates more than one year out. Lower theta decay but higher vega exposure.
Related Terms
AV
Written by
ApexVol Research Team
Quantitative options research
All calculations use live ORATS institutional data — the same source used by professional volatility desks.
RS
Technical reviewer
Ryan Silk, ApexVol Founder
Reviewed for technical accuracy
10+ years trading options. Built ApexVol's pricing engine, Greeks model, and IV-rank methodology.
This guide is updated as market conditions and ORATS data change. Last revised 2026-05-12.
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